tru Independence LLC Takes Position in Trane Technologies plc (NYSE:TT)

tru Independence LLC purchased a new position in shares of Trane Technologies plc (NYSE:TT) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 820 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after buying an additional 880,583 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Trane Technologies by 2.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after purchasing an additional 103,823 shares during the period. Morgan Stanley increased its holdings in shares of Trane Technologies by 0.6% in the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock valued at $567,617,000 after purchasing an additional 17,758 shares in the last quarter. Norges Bank acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $655,804,000. Finally, Capital World Investors boosted its holdings in Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TT shares. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group boosted their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Mizuho raised their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. UBS Group increased their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, Barclays lifted their target price on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $309.79.

Trane Technologies Trading Down 0.1 %

Shares of NYSE:TT traded down $0.27 during midday trading on Tuesday, reaching $321.09. The company’s stock had a trading volume of 482,619 shares, compared to its average volume of 1,086,372. The business has a 50 day moving average price of $325.86 and a 200 day moving average price of $291.01. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $345.46. The firm has a market cap of $72.68 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts forecast that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. Trane Technologies’s payout ratio is 35.90%.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.